Shell Asset Management Co. raised its stake in The Hartford Financial Services Group, Inc. (NYSE:HIG - Free Report) by 29.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 46,660 shares of the insurance provider's stock after purchasing an additional 10,603 shares during the period. Shell Asset Management Co.'s holdings in The Hartford Financial Services Group were worth $5,105,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of HIG. Geode Capital Management LLC raised its stake in The Hartford Financial Services Group by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 7,251,389 shares of the insurance provider's stock valued at $792,796,000 after buying an additional 81,495 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of The Hartford Financial Services Group by 4.5% in the 4th quarter. Victory Capital Management Inc. now owns 4,701,675 shares of the insurance provider's stock valued at $514,363,000 after acquiring an additional 202,487 shares during the last quarter. Norges Bank bought a new stake in shares of The Hartford Financial Services Group in the 4th quarter valued at approximately $416,340,000. Northern Trust Corp increased its holdings in shares of The Hartford Financial Services Group by 17.2% in the 4th quarter. Northern Trust Corp now owns 3,537,665 shares of the insurance provider's stock valued at $387,021,000 after acquiring an additional 519,717 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of The Hartford Financial Services Group by 0.7% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,448,982 shares of the insurance provider's stock valued at $377,319,000 after acquiring an additional 25,053 shares during the last quarter. Institutional investors and hedge funds own 93.42% of the company's stock.
Insiders Place Their Bets
In other The Hartford Financial Services Group news, SVP Allison G. Niderno sold 1,086 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $119.42, for a total value of $129,690.12. Following the completion of the sale, the senior vice president now directly owns 622 shares in the company, valued at $74,279.24. This represents a 63.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert W. Paiano sold 13,138 shares of the stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $117.20, for a total value of $1,539,773.60. Following the sale, the executive vice president now owns 31,678 shares of the company's stock, valued at $3,712,661.60. This trade represents a 29.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 113,429 shares of company stock worth $13,618,028 over the last ninety days. Company insiders own 1.50% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have recently weighed in on HIG shares. Raymond James boosted their price target on The Hartford Financial Services Group from $125.00 to $135.00 and gave the company an "outperform" rating in a report on Monday, March 31st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $125.00 price target on shares of The Hartford Financial Services Group in a report on Monday, February 3rd. StockNews.com lowered The Hartford Financial Services Group from a "buy" rating to a "hold" rating in a report on Monday, May 12th. Piper Sandler upped their target price on The Hartford Financial Services Group from $130.00 to $145.00 and gave the company an "overweight" rating in a report on Tuesday, April 1st. Finally, JPMorgan Chase & Co. upped their target price on The Hartford Financial Services Group from $125.00 to $129.00 and gave the company a "neutral" rating in a report on Tuesday, April 8th. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $129.71.
Check Out Our Latest Report on The Hartford Financial Services Group
The Hartford Financial Services Group Stock Performance
HIG stock traded up $0.54 on Monday, reaching $131.66. The company's stock had a trading volume of 1,205,054 shares, compared to its average volume of 1,569,818. The Hartford Financial Services Group, Inc. has a 52 week low of $98.16 and a 52 week high of $132.49. The company has a market capitalization of $37.41 billion, a P/E ratio of 12.72, a price-to-earnings-growth ratio of 1.12 and a beta of 0.70. The firm has a fifty day moving average of $120.66 and a two-hundred day moving average of $116.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.32 and a quick ratio of 0.32.
The Hartford Financial Services Group (NYSE:HIG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The insurance provider reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.15 by $0.05. The business had revenue of $6.81 billion during the quarter, compared to analyst estimates of $6.97 billion. The Hartford Financial Services Group had a return on equity of 19.55% and a net margin of 11.72%. The business's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.34 EPS. As a group, analysts predict that The Hartford Financial Services Group, Inc. will post 11.11 EPS for the current fiscal year.
The Hartford Financial Services Group Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Monday, March 3rd were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $2.08 dividend on an annualized basis and a yield of 1.58%. The Hartford Financial Services Group's dividend payout ratio (DPR) is 20.74%.
The Hartford Financial Services Group Company Profile
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Free Report)
The Hartford Financial Services Group, Inc, together with its subsidiaries, provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally. Its Commercial Lines segment offers insurance coverages, including workers' compensation, property, automobile, general and professional liability, package business, umbrella, fidelity and surety, marine, livestock, accident, health, and reinsurance through regional offices, branches, sales and policyholder service centers, independent retail agents and brokers, wholesale agents, and reinsurance brokers.
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